GMO Internet to open mining facilities in Europe

The Japanese giant GMO Internet announced its intention to take the leading positions in the sphere of mining of crypto-currency. Separate office will be opened in Northern Europe. This is reported on the official website of the company.

According to the publication, GMO Internet has already involved in its project a mining center that uses renewable energy resources of Northern Europe, which allows cutting costs through low energy consumption.

GMO Internet Mining Centre

As the capacity accumulates, the company also plans to offer cloud solutions in the field of mining and sales of related equipment.

Through test operation using current technology, we confirmed that a certain level of profitability could be secured, and therefore GMO Internet officially decided to launch the cryptocurrency mining business.

GMO Internet

In its activity, the company intends to use the latest 7 nm * 1 chips and is currently working with partners in the field of semiconductors in research and development of high-performance computing graphics adapters.

It is expected that GMO Internet will begin cryptocurrency mining in the first half of 2018.

Global GPU Shortage Leads Miners to Asia

The global shortage of GPUs leads to a hike in the prices and shift of miners to Hong Kong and Singapore for cheaper rigs

21 February 2018
23

The boom in crypto mining and rise in bitcoin price led to the shortage of GPUs globally. That is why miners headed to Hong Kong and Singapore for cheaper rigs.
Graphics cards are an efficient way to mine cryptocurrencies. As a result, the price of these GPUs is scaling through the ceiling. A good card can make good profits over a year.

According to the retailers, during the crypto market correction, there has been a dip in the demand for cards. But now as the bitcoin prices are rising, it has been speculated that the GPU depends will surpass that of last year.

Retailers are trying to take advantage of this situation, by speculation of the prices. For example, the market players like Amazon will try to profit from the current scenario.
Miners are coming to Asia to purchase mining hardware.

Sim Lim Square in Singapore and Sham Shui Po in Hong Kong are packed with people for these rigs. The primary reason for Hong Kong being a hot place for these purchases is that there is no sales tax here. Moreover, the place is closer to the component manufacturers of China.

It’s 30-50 percent cheaper to buy equipment related to crypto-mining in Hong Kong than in Europe.